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rupert murder dock launched "the daily." tens of millions of dollars later, he fold it it. the content wasn't that much different than what you can get across the web. in the end, people just didn't think it was worth paying for. that's it for this edition of "reliable sources, i'm howard kurtz. you can check us out every monday. we're back here next sunday more, 11:00 a.m. eastern. state of union with candy crowley is right now. to recap the past week of activity atop the fiscal cliff, nothing happened. today the search for a sweet spot between the deal the speaker can get from the president and the one he can sell to his bruised party. >> they have put forward an unbalanced plan that actually lowers rates for the wealthiest americans. >> when is he going to take a step towards us? >> republican house speakers tom
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cole and marsha blackburn. then falling off the fiscal cliff, a tumble that would shake the world with international monetary fund christine lagarde. plus what happens if nothing happens with moody's chief economist mark zandy, jackie comes of the "new york times" and cnn's dana bash. i'm candy crowley and this is "state of the union." politically the speaker is playing with a weaker hand that the president, the pressure is higher on him and his critics are harder too. >> the republican party's finished. >> he is selling out our children right now with these massive tax increases and that's a starting bid. he's saying here $800 billion now will you sit down with us, obama? >> twistill with the votes get
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counted in his caucus of republicans, boehner seems to have more room to maneuver than he did in preelection face-offs over political matters. even if the republican speaker gets a deal, can he get it passed? joining me now, republican congressman tom cole of oklahoma and marsha blackburn of tennessee, thank you both so much for joining us, that's really the key question, we keep saying they'll get a deal, they'll get something. it doesn't matter whether the two of them get a deal, it matter also the speaker haas the house votes to vote for it. how free a hand do you think the speaker has? >> i think inside the caucus, what people are looking at is how do we solve the system-wide problems? and if you're going to talk revenues, you've got to talk cuts. you have to talk reforms.
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you've got to talk trust funds and medicare and entitlements. >> 20-something days to do that. >> these are things that we have been talking about for years. the fiscal cliff is a name that the media came up with, but some of us have been saying for years, you have got to stop the out of control federal spending or you're going to end up at this point, we're there. >> congress mon cole, i just want to remind folks of something that you have said about the middle class tax cuts and letting them go on and also your reply to that. i just want to play that to get our viewers up to speed. >> in my view, we all agree that we're not going to raise taxes on people that make less $250,000. we should just take them out of this discussion right now. >> he has his idea, i don't want to raise taxes on anybody. >> is the split i think inside to the republican caucus? >> i think it's more of a
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discussion on tactics. none of us want to raise the rates on anybody, but the reality is, the rates go up on everybody at the end of the months. to me, i would get that off the table now, so they don't worry about it. i think those people are actually the president's leverage in these debate. it's the democrats going around screaming your taxes are going to go up if republicans don't agree. so let's just make sure, for 98%, we know they're not, we can continue to fight on the other 2% and the higher rates. >> you lose your leverage a little bit, don't you? >> we gain leverage. >> so you would go along with something like that? >> i have a different approach. the good thing is, we have the party of big ideas, we're putting ideas out on the table and saying this is how we solve this let's talk about it. now what i want to do is make certain that no one's taxes go up. let's look at cleaning up the tax code. and candy, the problem here is,
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as one of my constituents said to me yesterday, it is 2% today, tomorrow it's 10%. and it's federal income taxes that went on the books in 1913, it's coming to them real fast. >> one the calendar, you can't get tax reform between now and the end of the yeerg, you can't get entitlement reform, between now -- like you said, people have been talking about it for decades and they're not going goat it done before the end of the year. and number two, you all lost the election. would you think that does put some limitations on what you can ask for here, you lost members of the house, you lost members of the senate and you lors the white house. >> a couple of points here, the president thinks he has momen m momentum, i he's running on adrenaline from the campaign. we won the house and the american people put us there. you're right there, we did, but the american people have clearly said we don't want our taxes to
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go up. what we need to two -- i mean the lincoln quote that's in the lincoln movie now, you know, you've got to deal with the issues of tomorrow by looking at it today. you cannot be practicing escapism and not putting these issues on the table. it is imperative to deal with the spending. >> we need to take taxes and get them on the -- >> in your caucus, do you have a lot of -- is there a lot of republican support for that? >> i would say if it got to the floor, it would carry. >> in the house, that's the big deal is getting it on the floor. >> that's my judgment, but i have spent a lot of time counting votes and looking around. this doesn't say that we're going to raise taxes on anybody. okay, this group for sure, you your taxes aren't going to -- get that done w and the speaker has put out a proposal that
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doudoes not raids rates. but at the end of the month, taxes are going to go up for everybody. let's makes sure that with where we can, we save as many of those tax cuts for as many people as possible. let's continue to fight. it's not raising a white flag to recognize political reality. >> if speaker boehner comes to you all with a package with promises entitlement reform or puts us on a path to it or whatever, it does the same thing when it comes to spending cuts, does it do the same thing in the caucus on raising tax rids? >> tax rates are going up initiate. we're not, quote, raising them. that's current law. i think what the speaker has support, an you should look at the proproposal that he put out. every sungal one of our major leaders signed it. all the major committee chairman, including paul ryan, who obviously has an outside role. >> $800 billion worth of rev
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mew. >> this is a speak that's very strong, this is a speaker that got us through a tough election and retained our majority. i actually think this is a speaker at the prime of his power. it's not just about this period of time, it's about the next four years. the president is going to be president for the next four years, john boehner is likely to be president f-- speaker for for years. but the president needs john boehner more than john boehner needs the president. >> does the speaker have enough votes inside his caucus to agree to some kind of tax rate hike in the upper echelons of society, does he have enough votes that he can put together with whatever nancy pelosi can stir up and pass it? >> i'm not sure there's support
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for rate hike, there is support for the revenue by cleaning up the tax code. >> isn't there $800 billion of collected revenue still a tax hike? >> this has been part of the debate for years. looking at cleaning up the code. and candy, getting in there and -- there are so many ways you can do it. maybe you want to cap total deductions, maybe you want to look at some of these tax credits and clean this code up. dave campus p dave's camp has put an incredible amount of time on this. it is the time, this is the opportunity to clean that code up. >> if we don't act before the end of the year, taxes go up for everybody, not for 2%, and it's a lot more than $800 billion. there's a big difference between a temporary tax cut that goes out than's proactively raising
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taxes. it happens automatically. we have to do something and doing something requires the cooperation of the senate, which the democrats run, and the signature of the president. so we're not going to get 100% of what we want, but we can get a lot. john boehner is trying to focus this where it belongs and that's on spending restraint and entitlement reform. >> by and large could you see your way clear on getting it? republicans are taking a a bath on this politically and you have seen all the polling, republicans will be blamed if the taxes go up on the middle class. do you think that you can see your way clear at some point to pass the kind of package that the senate has passed, that it keeps those tax rates intact, could you pass that? because it is the party of not allowing tax rates to go up. >> the problem with the rates
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going up, is there again t more people know about this, they're saying, but look, then you're going to come back and you're going to get the tax cuts that were there for me, what we want to do is make the cuts permanent and spending temporary and i quite frankly like the fact that the american people are more engaged on this issue than they have ever been. and they are watching -- >> the tides are running against the republicans, are they not? >> the more people who are aware of this is -- i have talked to people all weekend about this. >> and in a specific parking t tennessee as well. >> their taxes are going ups in we act and they would like for us to take themts out of the line of fire. if i can get a deal that protects 98% of them, and at least continue to fight on this. that takes progress.
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that may take working together across the aisle a little bit and get it done. >> i need a yes or no from either one of you. will house speaker boehner still be speaker after the elections inside the caucus? >> absolutely. >> he'll be speaker. >> thank you, so much. appreciate your time today. when we return, what happens to the global economy if the u.s. goes over the fiscal cliff? >> markets i think would react very quickly. >> we'll talk to the woman who's keeping a close watch. my interview with imf chief christine lagarde is next. reti. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪
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the united states accounts for 20% of the global economy so no surprise the world the watching that fiscal cliff. as head of the international monetary fund, christine lagarde says u.s. leaders need to reach a deal and soon before that uncertainty damages the global economy. i spoke with her earlier. let me start out because we have new unemployment figures this week which shows that unemployment has dropped to 7.7, lowest in four years, new jobs numbers, 176,000 new jobs created. translate for me into what it means for the u.s. economy.
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describe the u.s. economy through those figures. >> u.s. economy is creating jobs. right? which means that it's doing a bit better and some people have decided that they were going to open new positions, which is a sign of trust in the economy. in addition to that, you have got a housing sector, which has begun to pick up, at least it's bottoming out now. you've got households that have reduced their debt in general, so you have quite a few signs that the situation is beginning to improve from, you know, five years of crisis, essentially. yet not all numbers are good. if you look at the deficit, high, much higher in the u.s. than in the euro zone for instance. if you look at debt, much higher than many countries in the euro zone, including spain, germany, france. yet, the united states of
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america is able to borrow at the lowest rate in pretty much its whole recorded history. so you have a very, very diverse landscape at the moment, but certainly one that could be significantly improved, or worsened by the situation that we have concerning the fiscal cliff, the fiscal deficit and the debt of the country, which are three topics that can be addressed now on the comprehensive and efficient fashion. >> in the fiscal cliff negotiation. so what should this mean? because i think i could interpret any given number to say, oh, that means we shouldn't touch taxes for the upper brackets because the economy still needs as much money as it can have in it. or i could argue, oh, this means that we need more stimulus to keep the jobs going, or i could look at the debt and say, oh, this means we need to cut spending. so what does it mean?
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so what would you, and what globally, what would mean the most for the u.s. to do in terms of the global economy? >> you know, what you said, you would qualify as an economist. on the one hand, on the other hand. the truth of the matter is that the best way out of this would be a balanced solution because you will always fine a school of thoughts that will say it's much better to cut spending, and you will find another school of thought that says it's much better town crea increase the r and cut taxes and there are those that say you need to cut deficits now and in the long run. we have seen studies of all sorts and they will not demonstrate the absolute truth. my view is the best way to go forward is to have a balanced approach that takes into account both increasing the revenue,
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which means either raising tax or creating new sources of revenue and cutting spendings as well. >> right now here's what it looks like. it looks as though they're going to keep the tax rates for the middle class the same and pass that, with maybe without any work on entitlements and maybe with a promise to sort of look for places to cut. is that enough to keep the world feeling secure about the u.s. economy? >> i don't think that it's enough. because there is still that degree of uncertainty that fuels doubt, that prevents investors, entrepreneurs, households from making decisions because they don't know what tomorrow will be. they know that a fix has been found for today, but there is still work to be done tomorrow and the day after tomorrow. so it would be much better to actually have a more comprehensive approach and to deal with all the issues. >> what is your level of confidence right now, three
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weeks before something needs to be done? >> well, my confidence is deeply rooted in the affection that i have for the united states, its history, it's characteristics, it's culture, and i i believe there is a sense of being practical, addressing the issues, rather than dancing around and avoiding issues. that i have seen in this country and that is described by many observers, whether they're economists or writers or politicians and i certainly hope that sense of pragmatism will prevail and will bring people to look at a broader picture than what happens within the belt way, if i may say. >> you also, i think at one point predicted a growth rate of about 2.3% next year, but that included keeping all the what we call the bush era tax cuts. what do you see in terms of growth for the u.s. next year? >> our forecast has been slightly revised downwards to
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2.1%. 2.1%. >> that's not very much. >> it's positive, but if the u.s. economy was to suffer the downside risk of not reaching a comprehensive deal, then growth would be zero. >> and when we look, a lot of times when our politicians talk about the u.s. economy, they say, well, we don't know what's going to happen in europe, and we don't know what's going to happen in greece and we don't know what's going to have in the euro zone and the energy needs in china and india and industrialized nations. what do you think is the biggest threat from the outside to the u.s. economy? >> the fiscal cliff. first of all i think there are
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issues that are beginning to improve and, you know, whether you look at the euro zone which is making progress, gradually, laboriously and certainly improving and with good numbers because if you look at thinge ia because if you look at thinge a greg gat euro zone debt, and you have political stability back now that the new team is in place so the volatility and the instability factors that are outside have reduced. the real threat that we have at the moment is really here with us and that can be addressed. >> but when you look at, i mean i understood that the european banks had sort of downsized or downgraded what they thought would be growth. you've got more than 11% unemployment in the euro zone, which is a good deal higher than
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here. >> yeah yeah. >> are those things threats to the u.s. economy or do you think the u.s. economy now is destabilizing or has the potential to destabilize the world economy? >> i think the u.s. economy, because it's a relatively closed economy, because it is large, because it trades with itself, and with its immediate neighbors is less vulnerable to what happens outside, for instance, in europe. i'm not saying there would be no consequences outside of europe, but the consequences would be relatively minor. so it's more consequences to its own difficulties and to it's own issues as to what happens elsewhere in the world because it's such a large player. >> so we're our own 5,000-pound gorilla in the living room. >> we can be our own best friends or our own best enemy. >> let me ask you as a final question, january 2 arrives, no deal. what will we notice first?
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>> lack of confidence. markets, i think would react very quickly. and i think it would result in, you know, the stock markets really taking a hit, but i would say that it will depend on what's on the horry rise son. if what's on the horizon is a bigger, better, the debt ceiling and the long-term deficits and debt levels. >> what you better comprehensive six than a quick fix. when we return, the perils of doing nothing. >> reports indicate that the president has adopted a
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deliberate strategy, a slow walk right to the edge of the fiscal cliff. >> this is the same republican leadership that had the house in session barely a full day this week. ♪ you are my sunshine, my only sunshine ♪ ♪ you make me happy [ female announcer ] choose the same brand your mom trusted for you. children's tylenol, the #1 brand of pain and fever relief recommended by pediatricians and used by moms decade after decade. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer.
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a pretty overwhelming consensus holds that some way, somehow over the next 20 days washington will find a way over the fiscal cliff and then there's those disconcerting moments. >> if there is no agreement, we go over the cliff. >> just assuming that washington's consensus is wrong tland's no deal. income taxes will go up, a typical family of four will pay about $2,000 more a year. the social security rate goes up 2%. benefits for the long-term unemployed benefits expire, most benefits will be cut by about 10%. nondefense discretionary spending, things like air travel, safety and food inspections will be cut about 8%. the ceo warns that no deal could
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lead the economy back to recession. others say that it might be rough in the short run but the economy might prosper in the long return. the facts t politics and the future of the fiscal cliff next with cnn's senior congressional correspondent dana bash, steven moore of the "wall street journal" and jackie calms of the "new york times." 315 horsepower. what's that in reindeer-power? [ laughs ] [ pencil scratches ] [ male announcer ] chevy's giving more. get the best offer of the year -- 0% apr financing for 60 months plus $1,000 holiday bonus cash. plus trade up for an additional $1,000 trade-in allowance. hurry. bonus cash ends january 2nd. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress.
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joining me around the table, cnn's congressional correspondent dana bash, mark zandy and he has a new book out "paying the price" steven moore of the "wall street journal" and jackie calms of the new york tiles. thank you all for joining us. let's jut ask you first of all to set the stage for it. will it be armageddon, should we all start hoarding gold? i mean honestly you get such differing opinions about what would happen if we fall off the
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fiscal cliff. >> january 1, no, no big deal. particularly if treasury decides to freeze withholding schedules and tax rates don't actually go up. by the end of january, things start to get uncomfortable. at the end of february, thinls get really uncomfortable. >> this does seem to put a little more time on the plate of congress which tends to expand at a time that you give it. >> i think if you've got very different it ideological views. i think the spending cuts would be positive for the economy. and so, the democrats believe exactly the opposite of that and so this is a dispute over very big ideas. this is a dispute about the
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future of our federal budget and how we're going to operate washington. >> as we said earlier, there's there consensus that, oh, we'll get something, it's the congress. is that consensus beginning to waiver? >> it depends who i talk to, really. but i do think there is a movement towards your prooef guest tom cole, when he, i think it's been a couple of weeks ago, it was leak what he said. he said the republicans really ought to declare victory by going along with the senate democrats by passing the cuts on what people all agree on, those under $250,000 and see if they can't get the top rate back down again, it's hard to think that's not w where they end up so why not make it clean instead of ugly. >> i think it is true that many republicans are saying privately what tom cole said publicly con t on the show that the expedient
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and right thing to do is just agree to the losses, the tax rates going up for the wealthy and really submitting a tax reform that 39.6% will be moot. however, there was a very, very real fear among house republicans about getting primary. there was some groups, club for growth and others who will be absolutely after these republicans, saying, you broke a pledge, you voted for a tax increase and there are lots of republicans out there in various districts waiting in the wings to vote against it. >> but it will get mitigated if they do get tax reform. >> i actually think solving the short-term tax issue, is going to get done. but there's another half of this is which is what are we going to do about the spending side. and there are cuts that are supposed to automatically take place on january 1. i don't see republicans walking away and saying we won't do
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those spending cuts. you may even get more gridlock and what will we do about getting that spending down. >> we view something that emanuel cleaver said on saturday morning, saying i think most rational people including democrats realize that we have got to make some cut ors deal with medicare, but you know, let's have some means testing. >> yeah, there's general agreement about this. if you look at a president obama's proposal on spending cuts, there are means cuts on that. i think we need both tax revenue and much more than tax reform will give us, we also need higher tax rates and we also need spending cuts and it has to be balanced. i'm optimistic about this, it seems to me they're coming to common ground here on the tax side and the spending side. >> right now when i'm with the
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dreath democrats they say no cuts in medicaid, no cuts? social security. >> they kind of don't matter at this point, right? >> they don't matter, but it is going to be, we talked so much about the politics within the republican party and within the republican caucus in the house. but talk to senior democrats and they will tell you, even rank and file democrats, emmanuelle cleaver is important because he's the tom cole of the left, but it's going to be hard for them to walk in at the democratic caucuses that you're going to have to give on raising eligibility for medicare. >> you know the deals that were made, as few as they were recently have not been from the right to the left, but the speakinger has lost her left and the house speaker has los his
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right. >> there's got to be a lot of republicans who -- president obama reluctantly said he would be for changing the cost of living for social security and raising the requirement age very slowly for medicare and those things are going to be harder to get now for democrats because the left has mobilizeded, liberal groups are really acting the way they -- but i think the democrats recognize, that entitlement spending has goes to be curbed. >> they don't want to change medicare and medicaid spending or private advertise social security. if you're not going to do those kinds of things and you're going to make the 'rarithmetic work, you do that, you can get to numbers that work in the context of a budget.
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>> let me tell you where republicans are with their thinking. i think republicans are saying, look, the president's probably going to get his way on the tax increase on the ledge. so say he gets that, they raises $70 billion, $80 bill i don't think a year. the republicans saying, maybe we'll just give the president that. they'll say, okay, mr. president, what are you going to do with your second act? you've got to come forward with a budget, you've got to come forward with some of these entitlement cuts. but the president has a short-term victory but coming into 2013, he's got a big problem. >> it has to be all encompassing, it has to be revenue, it has to be spending, the arithmetic has to work and there lsz also has to be growth. >> you didn't get a big deal by the 31st of this work. >> no, but the frame work. >> you can't cross the ts and dot the is. >> here's the numbers and here's what gets you fiscal
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sustainability. >> hang on just a seconds, we have got to take a quick break. more with our panel after the break, and then later, explaining the fiscal cliff from tv's most famous billionaire. >> think of the economy as a car and the rich man as the driver, if you don't give the rich man all the money, he'll drive you over a cliff, it's just common sense. (crash) ow! i landed on my keys. did you get that? oh yeah. that was amazing. here you go. that was a fun trick! see? santa's okay. walk it off santa. nicely done. share videos instantly with s-beam. on the galaxy siii and note ii. available at best buy and best buy mobile stores. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind
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time for a check of the headlines, in the last unset lt house race of the 2012 election, republican -- defeated tea party republican jeff ran dri in a runoff. redistricting forced the runoff race between the two republican lawmakers when neither received the 50% of the vote in november. obama is taking his message of middle class tax cuts on the road. he tomorrow he'll tour a diesel engine shop. have you every fallen asleep while watching tv only to be blasted awake by a loud ad. >> wow!
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that's a low price! >> i know! >> weeeee! >> starting thursday, the commercial advertisement loudness mitigation act, better known as calm goes into effect. the law which congress passed in 2010, bans ads from being louder than the tv program their interrupting. we'll talk about that presidential trip to michigan and what he'll say about the large show showdown there after these not so large commercials. [ male announcer ] break the grip of back or arthritis pain
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with odor free aspercreme. powerful medicine relieves pain fast, with no odor. so all you notice is relief. aspercreme. we are back with steven moore and jackie calms, michigan in this sort of methodic, at least in terms of the political times right now t electric chur passes a right to work law in
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michigan, kind of at least one of the cradles of the union and it would mean that you wouldn't have to join a union, it would haven't to pay union dues, how did this happen? >> this just came out of the blue and the republicans just got their ducks in a row and they control the house and the senate and the governor ship in the senate, even though it's a state that barack obama carried. they got this through in the house and senate. it's a big deal, it's a poison pill for the eurounions, they h right to work. a lot of new businesses when they're looking at building new factories or building new plants, they won't even consider states that are not right to work. so much of the growth in this country is in the right to work states. so i think economically, if it passes, it will be probably tuesday or wednesday when we get a final vote on this, i think it puts michigan, a state with a 10%, 11% unemployment rate, puts
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that state right back on the nap. >> si stephen correct that this actually economically makes sense, even if politically, it seems kind of like out of step with the times? >> i go worback and forth on th on the down side, it goes for slower wages. i think steven is right, it will lead to more jobs, i mean michigan is at a disadvantage against some of the right to work states that are just south of it and its lost a lot of the auto jobs to places like kentucky and tennessee and indiana. and this will probably make it more balanced. but again, it's going to weigh on wages. that's the bottom line here. >> the unions in michigan have given up quite a bit with the auto bailouts in 2009 and forward and so they have been -- it's a very much a cooperative relationship that's developed
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between the management and labor and the auto companies are in neutral on this legislation. >> really, remember during the bailout, the big sticking point was getting the unions to bend on their requirement, on their pensions, and i mean, at the time it was sort of not that long ago, almost unheard of, but the unions in michigan would bend on that. >> it also means that michigan may be moving beyond being an auto state. >> it has to. >> they want to be a technology center, a financial center, and for those industries, being a right to work is an asset. >> the cost structure has come down significantly. if you look at job growth in michigan, it's actually been very strong in the the economic recovery, in part because of of the cost structure. >> i'm taking you out of your comfort zones a little bit. not you all, so everybody feel free to chime in. what caught my attention was a column today by ross dalpot in
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the "new york times" who wrote, this chapter, the demint chapter, the tea party chapter, call it what you will, was probably a necessary stage for the american right. it's a norm -- now his -- the whole gist of this column is that jim demint's time is up for the tea party? >> what he has said is that he does feel like he was successful in getting about half a dozen te party backed republicans in the senate who would not have been there if not for him. it is also true that he had some important candidate who is did not win and you can bet that senator mcconnell heard that senator demint is coming -- >> and of the candidates that jim demint backed in states that were red states and the republicans should have won, there's a number of republicans up to mitch mcconnell, the
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republican leader who believed they would be in the majority today if not for some of the candidates. >> there's a little bit too much demoralization, everybody's so -- very similar to what it was like after the 2004 election, when george w. bush was elected and liberal democrats saying, oh, my gosh, we're never going to win another election, i always caution people are conservative like me, look, republicans can make a come back, they can win in 2014 and 16. you shouldn't abandon your basic principles, in my view that would be the worst thing to do. >> the tea party has said, look, we're for smaller government, less government interference. >> we have this historical battle between thomas jefferson and alexander hamilton going all the way back to that point, how much government do we want or not want. but on an optimistic note, we
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always seem to manage to get beyond this. >> congress is busy at work and just not on the fiscal cliff. ac, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars together for your future. to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come.
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our commitment has never been stronger. ♪ you make me happy [ female announcer ] choose the same brand your mom trusted for you. children's tylenol, the #1 brand of pain and fever relief recommended by pediatricians and used by moms decade after decade.
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we got fascinated by words and definition this is week, prompted by the fine folks at miriam webster dictionary, coup the balloon drop. sharing the top spot this year, socialism and capitalism. socialism, the editors wrote, saw its largest look up spikes during coverage of heavyweight care, but also saw peaks in the days following both conventions and each of the presidential debates. capitalism, although looked up somewhat less often rode the same waves of interest. we're going to bet that if there was a post election word list, fiscal cliff would be a contender. we know that because of the discussion of the wonkiesiest discussion of budget maneuvering has popped up in culture. >> think of the economy as a car and the rich man as the driver, if you don't give the rich man all the money, he'll drive you over a cliff, it's just common sense. >> in pop culture, the
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definition of the words is often sacrificed for comedic value. and finally, is there a list of words stricken from the district in 2012? >> senate 2367, an act to strike the word lunatic from federal law and for other purposes. >> we're unclear from what other purposes the word lunatic would be struck, or how you go about the striking, but you heard it, a bill to remove the word lunatic from every word ever rain. >> the term lunatic holds a place in antiquitantiquity. >> by partisanship reign for a moment, strike lunatic. >> on this vote the yays 395, the theys are 1, the rules are says pended. the bill's pafds. >> here's the one. >> not only should we not use the term lunatic, not

tv
State of the Union
CNN December 9, 2012 9:00am-10:00am PST

News/Business. Candy Crowley. (2012) Treasury Secretary Timothy Geithner makes the administration's case for averting the fiscal cliff; the fight over U.S. Ambassador Susan Rice.

TOPIC FREQUENCY Michigan 9, Tom Cole 5, John Boehner 4, Citi 4, Christine Lagarde 3, Europe 3, Washington 3, Boehner 3, Steven Moore 3, Jackie 2, Nasal 2, Obama 2, Mark Zandy 2, Marsha Blackburn 2, Cliff 2, Santa 2, Tennessee 2, Unset 1, Dri 1, Ac 1
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